Electronic quantity purchasing system

• US 20080033833A1
• Filed: 06/06/2007
• Published: 02/07/2008
• Est. Priority Date: 03/15/2000
• Status: Active Grant

• Current Assignee: Rodney Senior
• Original Assignee: Rodney Senior
• Inventors: Senior, Rodney
• Granted Patent: US 8,065,191 B2
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 20/203 Inventory monitoring
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0239 Online discounts or incentives
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0605 Supply or demand aggregation
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

Disclosed is an electronic quantity purchasing system which is a host computer that a user may access to purchase quantities of goods or services at a locked-in price for later redemption. The preferred communication means employed is via secure, high-speed Internet access. Data storage is electronic. Users employ the system to make an instant purchase of a small or large quantity of a commodity, such as gasoline at the current purchase price. Users can redeem all or part of their balance for real product at a physical location in the future when desired. The redemption will draw down the user'"'"'s account balance at the locked-in purchase price, so the user is able to circumvent the market price in effect at the time of redemption.

Claims

1. A method of electronically transacting purchase and redemption of at least one tangible commodity which comprises:

a) providing an electronic system for purchasing tangible commodities over a communication network and which system includes a computer database containing commodity information concerning at least one product which may be purchased at a current time purchase price, and which purchase price is locked-in at time of purchase, for at least partial redemption at a future date;

b) establishing an account for the purchaser;

c) establishing an account balance for each commodity;

d) authorizing the purchaser to purchase a quantity of at least one tangible commodity from the electronic system;

e) electronically accessing the electronic system for purchaser transactions;

f) performing a purchaser transaction including purchasing from said computer database a first purchase quantity of a selected tangible commodity at the current time purchase price reflected in said computer database for redemption of at least a portion of the first purchase quantity of the selected commodity at a future date at the locked-in purchase price;

g) summing the first purchase quantity with the account balance to provide a current account balance in said account for the purchaser in the computer database for the selected commodity;

h) storing data in said computer database for the current account balance in an electronically accessible format;

i) performing a purchaser transaction including redeeming at least a portion of the current account balance of the selected commodity;

j) adjusting the current account balance to reflect the redeemed portion of the selected commodity;

k) repeating at least one of the steps of performing a purchaser transaction selected from purchasing from said computer database a subsequent purchase quantity or redeeming at least a portion of the current account balance; and

l) adjusting the current account balance to reflect the purchaser transaction from the step of repeating.

2. The method of claim 1 wherein at least a portion of the current account balance of the selected commodity is electronically transferred in the computer database by the purchaser in order to be redeemed by another entity.

3. The method of claim 1 wherein the steps of purchasing and redeeming are performed at a plurality of locations.

4. The method of claim 1 wherein the step of electronically accessing the electronic system is performed over a computer network.

5. The method of claim 1 wherein at least one commodity is a brand name commodity and the purchasing and redeeming steps are effected with the same brand name of the commodity.

6. The method of claim 1 wherein the commodities are transportation fuels.

7. The method of claim 1 further including the step of identifying at least one commodity by transportation fuel formulation.

8. The method of claim 1 further including the step of identifying a zone for redemption from the account balance of each commodity.

9. The method of claim 8 further including the step of restricting redemption of the account balance of each commodity to the identified zone of redemption.

10. The method of claim 8 further including the steps of:

identifying at least another zone of redemption; and

converting at least a portion of the account balance of at least one commodity to an account balance for the another zone of redemption.

11. The method of claim 1 further includes the step of the purchaser authorizing a plurality of redeemers to redeem at least a portion of the account balance for at least one commodity.

12. The method of claim 11 wherein the step of redeeming is repeated, and wherein the redeeming occurs at a plurality of locations.

13. A method of maintaining an account for purchase of at least one tangible commodity at a price current at time of purchase and for delivery on-demand of the at least one tangible commodity regardless of a price current at time of delivery, the method including the steps of:

establishing an account in an electronic system for an individual user;

establishing a current balance for each commodity in the account;

accessing the account by the user;

transacting with the electronic system for delivery of a selected tangible commodity, delivery being available on-demand at a plurality of specific locations;

adjusting the current balance for the selected commodity in response to the transacting,

wherein the step of transacting includes the steps of;

purchasing a purchase quantity of the selected commodity at the price at time of purchase to lock-in said price at time of purchase for subsequent delivery and redemption,

redeeming subsequently a redeemed quantity of the selected commodity at a subsequent date, the redeemed quantity being at least a portion of the current balance; and

permitting access to the account for repeating the step of transacting.

14. The method of claim 13 wherein the step of adjusting the current balance includes,

if purchasing a purchase quantity, summing the purchased quantity with the account balance, and,

if redeeming at least a portion of the account balance, subtracting the redeemed quantity from the current balance.

15. The method of claim 13 including the steps of:

identifying at least one commodity by transportation fuel formulation; and

identifying a zone for redemption for the account balance of each commodity.

16. The method of claim 15 further including the step of restricting redemption of the account balance of each commodity to the identified zone of redemption.

17. The method of claim 15 further including the steps of:

identifying at least another zone of redemption; and

converting at least a portion of the account balance of at least one commodity to an account balance for the another zone of redemption.

18. The method of claim 13 further includes the step of the purchaser authorizing a plurality of redeemers to redeem at least a portion of the account balance for at least one commodity.

19. The method of claim 13 wherein the step of redeeming is repeated, and wherein the redeeming occurs at a plurality of locations.

20. A method of providing an account for the purchase and redemption of a bulk tangible commodity, the method comprising the steps of:

providing an account for a user on an electronic network;

providing a single bulk quantity account balance for each commodity available on the electronic network;

permitting the user to access the account for a plurality of purchases of at least one selected commodity, each purchase being a discrete quantity of the selected commodity;

permitting the user to access account for a plurality of redemptions of the selected commodity, each redemption being a discrete quantity of the selected commodity;

adjusting the single bulk quantity account balance for the selected commodity by adding each purchase to the single bulk quantity account balance and by subtracting each redemption from the single bulk quantity account balance;

storing the adjusted single bulk quantity account balance in the electronic network.

21. A system for purchase and redemption of transportation fuel, the system comprising:

a communications network;

a computer database connected to the communications network, wherein the computer database includes a current price for transportation fuels, and the current price for each transportation fuel is dependent on a formulation;

a user account stored in the computer database;

an account balance in the user account for one or more transportation fuels, each account balance being a sum of purchases and redemptions of a transportation fuel, each purchase of transportation fuel being at the posted price at time of purchase,

wherein the communications network permits purchase of a transportation fuel of a formulation from a first location, and the communications network permits redemption of a purchased transportation fuel at a second location.

22. An electronic system for providing an electronically accessible bulk refillable account for commodity purchase and redemption, the system comprising:

a communications network;

a computer database accessible by a user via the communications network, and accessible by a point of redemption via the communications network;

data stored on the computer database, the data including a price for purchase for at least one commodity;

a user account stored on the computer database, the user account including an account balance for at least one commodity, wherein the user accesses the user account for bulk purchases of the at least one commodity at a locked-in price at the time of purchase,

wherein the point of redemption permits redemptions as delivery and receipt of at least a portion of the account balance at the locked-in price, and

wherein the account balance is the sum of the bulk purchases of the commodity and future redemptions of the commodity at the point of redemption.

23. The system of claim 22 wherein the computer database is accessible by a plurality of points of redemption.

24. The system of claim 22 wherein the data includes a price for a plurality of commodities, and the user account includes an account balance for bulk purchases of each commodity.